Reserves declared for commercial auction
Buyers at the auctions of three Auckland commercial properties won’t have to wonder about the reserve prices the vendors have set.
Tuesday, September 25th 2012, 12:00AM
by The Landlord
The three Henderson properties, in west Auckland, are being marketed for sale with declared reserves.
Barfoot and Thompson commercial salesperson Greg Clarke said they were not in a top location but represented value for money, with access to motorways.
The three properties in Heremai Street have declared reserves below their capital valuations and the purchase prices paid in 2004 – one with a CV of $950,000 has a reserve of $800,000, another at $1.6 million is $300,000 below CV and a third, leased to Tegel Foods with a rental of $51,000 has a reserve of $700,000 and a CV of $1.3 million.
The auction will be held on October 3. The auctioneer will open the bidding at the reserve price.
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